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China’s state-owned enterprises (SOEs) generated a total of 3.01 trillion yuan of profit in the first eight month of the year, falling by 1.5% from the same period last year, according to to data released by the Ministry of Finance.
In breakdown, central government-administered SOEs made a profit of 2.16 trillion yuan, rising 4.7% year over year, while local government-administered SOEs made a profit of 851.4 billion yuan, sliding 14.4% from a year ago, showed the data.
SOEs made a revenue of 52.35 trillion yuan in the eight-month period, rising 9.5% from a year earlier, with central government-administered SOEs’ revenue rising 10.5% on year to 29.4 trillion yuan, while local government-administered SOEs’ revenue rising 8.2% to 22.9 trillion yuan, it said.